The 10 fastest growing industries of the future

We recently gave you the lowdown on the top ten doomed industries, as reported by market research firm IBISWorld Inc. Apparently, if you’re in one of those sectors, you might want to think about bailing, because pretty soon they might not exist. But where to?

An astute reader pointed out that perhaps we should look into the fastest growing industries as well. So, we did, and found a list also recently compiled by IBISWorld.
That one lists industries in the U.S. Another put together by Sageworks Inc. lists industries in Canada. That’s below.

We’ve also listed sample jobs found by combing through job posts and specific company websites in each sector of the first list. These are just examples of what jobs were posted at that time and are not a full representation. OK? OK.

Here are the 10 fastest growing industries according to IBISWorld:

VOIP

– IBISWorld says revenue and subscriber rates in the Voice Over Internet Protocol industry are growing exponentially and that the advent of 4G will open up new avenues

for expansion.

Sample Jobs: engineer, software developer, installation, sales, systems analyst, technician, telephony architect (it’s a real thing, I checked) — plus the usual admin and accounting positions which apply to all sectors, of course (until those posts are taken over by robots).

Wind Power – Apparently, the demand for wind power generation is going to take off in the next five years.

Environmental Consulting – People want to save the environment, or something. I don’t know. I haven’t heard much about this. Have you? IBISWorld says companies are seeking to reduce their carbon footprints through the implementation of environmentally friendly practices.

Biotechnology – We like to live, so this industry is probably not going to die any time soon and is only going to get bigger and bigger. IBISWorld points out that, “demand for cutting-edge medicines and treatments will result in strong growth for the Biotechnology industry.”

Video Games – Apparently the gaming industry is banking on our continued desire to waste hours and hours of potentially productive time planting virtual farms, slingshotting birds at pigs, or killing zombies. And it will pay off as users increase and technology grows.

Correctional Facilities – Because people will always commit crimes. Also because, in the U.S. anyway, the industry is benefiting from an increasing federal and state government funding for private facilities and services. Privatized facilities are growing as prison populations grow.

Internet Publishing and Broadcasting – As newspapers join the ranks of doomed industries, web publishing of every possible form is soaring. Broadcasting is catching up as television programs and movies are finding homes online, some exclusively.

Interestingly, however, they also list Cut and Sew apparel manufacturing as a growth industry. (That same industry, however, has been marked for death by IBISWorld.)

I contacted Sageworks and was told the difference might lie in the distinction between Canadian and American companies. So, for a tie breaker I got a report from The Conference Board of Canada on Canada’s textiles and apparel industry, of which apparel manufacturing is a part. According to that one, in 2010, the industry recorded its first increase in production in ten years. Modest gains are expected this year. “However, energy and material costs are rising at the same time that growing competition from imports is limiting the ability of manufacturers to raise prices… the industry will record only a small increase in profits this year.”

Not exactly a glowing forecast. So make of this what you will.

The top 10 fastest growing industries in Canada, according to Sageworks: